After-hours MoversARO +6.13% after May same-store sales beat estimates substantially.
CMVT +4.36% after beating 1Q estimates and raising 2Q and 05 forecasts.
CVTX +5.60% after saying it has reached an agreement with the FDA on a protocol for a clinical trial of Ranexa, a treatment for chronic angina.

After-hours NewsU.S. stocks finished mostly higher Wednesday as falling energy prices propelled airline and consumer discretionary shares higher. After the close, General Motors and DaimlerChrysler said sales in May rose as higher gasoline prices failed to curb demand for trucks, Bloomberg reported. Tyson Foods workers in Nebraska said they are preparing for a possible strike at the company's largest beef plant later this month unless a new contract is approved, the Omaha World-Herald reported. OPEC ministers said they will increase oil production, allowing members to pump at will and bypass the quota system that has governed supplier for most of the last two decades, Bloomberg said. Osama bin Laden and other leaders of al-Qaeda were close to being captured in Afghanistan on at least 2 separate occasions since 2002, Agence France-Presse reported. China is set to raise interest rates and electricity prices in a continuing effort to cool an overheating economy, the South China Morning Post reported.

BOTTOM LINE: The Portfolio fell slightly today on weakness in a few of my internet and security long positions. I took profits in some of my internet longs in the afternoon, leaving the Portfolio with 100% net long market exposure. I was a little disappointed in today's action, considering the fall in oil. However, I am trying not to read too much into it at this point as I think Intel's mid-quarter update, Bush's trip to Rome and the employment numbers on Friday are leaving traders and investors a bit hesitant.

The positions and strategies discussed on BETWEEN THE HEDGES are offered for entertainment purposes only and are in no way intended to serve as personal investing advice. Readers should not make any investment decision without first conducting their own thorough due diligence. Readers should assume the editor of this blog holds a position in any securities discussed, recommended or panned. While the information provided is obtained from sources believed to be reliable, its accuracy or completeness cannot be guaranteed, nor can this publication be, in anyway, considered liable for the investment performance of any securities or strategies discussed.